Bybit Receives In-Principle Approval (IPA) to Set Up as a Virtual Asset Platform Operator in UAE

Bybit, the world's second-largest cryptocurrency exchange by trading volume, is proud to announce that it has received its  In-Principle Approval (IPA)

Crypto exchange Bybit has received In-Principle Approval (IPA) to set up as a Virtual Asset Platform Operator in the United Arab Emirates (UAE) from the Securities & Commodities Authority (SCA).

The approval, dated Feb 18, 029, puts Bybit in the final stages to receive its fully operational license from the SCA. This authorization will allow Bybit to offer a broad range of digital asset services to both retail and institutional clients in the UAE.

"We are honored to have received the IPA from SCA. This approval marks a crucial step in our journey to providing a more secure and transparent crypto trading solutions for users in the UAE. At Bybit, we remain committed to working closely with regulators to foster a compliant and innovative digital asset ecosystem in the country," said Ben Zhou, Co-founder and CEO of Bybit.

The UAE has become a leading global hub for cryptocurrency and blockchain innovation, supported by its advanced regulatory frameworks. This aligns with Bybit's vision to bridge traditional finance with digital assets.

In addition to its new approval in the UAE, Bybit holds existing regulatory approvals in the Middle East, showcasing its commitment to compliance in key financial hubs.

Furthermore, Bybit adheres to global compliance standards, including Anti-Money Laundering (AML) and Counter-Terrorism Financing (CFT) protocols, to ensure a safe and trusted trading environment for its users.

Beyond its regulatory commitment, Bybit is known for its user-centered approach and advanced trading technology, catering to the diverse needs of crypto traders.

Earlier this year, Bybit launched its flagship product, the Crypto Ark, a comprehensive learning portal designed to demystify cryptocurrency and blockchain technology for beginners.

The platform offers a variety of courses, articles, and guides covering various aspects of crypto, aiming to provide accessible and engaging educational content.

As part of its social responsibility initiatives, Bybit also launched the "Together We Rise" campaign to support charitable causes. The campaign invites users to participate in joint fundraising efforts for organizations that align with Bybit's values.

With a focus on community engagement and social impact, Bybit aims to make a positive contribution to the crypto ecosystem and beyond.